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SolarEdge Technologies (SEDG) Outpaces Stock Market Gains: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $295.86, moving +1.92% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.07%.
Prior to today's trading, shares of the photovoltaic products maker had gained 2.54% over the past month. This has outpaced the Oils-Energy sector's gain of 0.29% and lagged the S&P 500's gain of 7.25% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be August 2, 2022. The company is expected to report EPS of $1.40, up 9.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $726.28 million, up 51.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.91 per share and revenue of $3.02 billion, which would represent changes of +43.66% and +54%, respectively, from the prior year.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SolarEdge Technologies is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, SolarEdge Technologies is currently trading at a Forward P/E ratio of 42.02. This represents a premium compared to its industry's average Forward P/E of 40.39.
It is also worth noting that SEDG currently has a PEG ratio of 1.47. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Solar stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SolarEdge Technologies (SEDG) Outpaces Stock Market Gains: What You Should Know
SolarEdge Technologies (SEDG - Free Report) closed the most recent trading day at $295.86, moving +1.92% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.07%.
Prior to today's trading, shares of the photovoltaic products maker had gained 2.54% over the past month. This has outpaced the Oils-Energy sector's gain of 0.29% and lagged the S&P 500's gain of 7.25% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be August 2, 2022. The company is expected to report EPS of $1.40, up 9.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $726.28 million, up 51.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.91 per share and revenue of $3.02 billion, which would represent changes of +43.66% and +54%, respectively, from the prior year.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SolarEdge Technologies is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, SolarEdge Technologies is currently trading at a Forward P/E ratio of 42.02. This represents a premium compared to its industry's average Forward P/E of 40.39.
It is also worth noting that SEDG currently has a PEG ratio of 1.47. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Solar stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.